Taishin Financial may buy New York Life Taiwan arm

TaipeiBureau

TAIPEI -(MarketWatch)- Taishin Financial Holding Co. (2887.TW) is looking to acquire New York Life Taiwan for NT$300 million (US$10.14 million) and the deal is in its final stage, according to a report in the Commercial Times that quotes a unnamed source familiar with the matter.

Taishin, which doesn't have an insurance arm, is the biggest lender by value of loans in Taiwan's automobile-financing market.

Taishin said it couldn't comment on individual deals, the report added.

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